Looking Backward, Moving Forward: Revisiting Past Perspecitives

Episode 78 of the Built Simple (in Insurance and in Life) podcast, hosted by Adam Brsan, titled "Looking Backward, Moving Forward: Revisiting Past Perspecitives" was published on May 1, 2024 and runs 38 minutes.

May 1, 2024 ·38m · Built Simple (in Insurance and in Life)

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Summary

Chris and Nick discuss some old videos they did together and see if their thoughts and opinions are still the same or if they have changed over time. Adam also hops on to provide his input on the same topics. The key to success for insurance agents is committing to a specific focus or strategy for an extended period (e.g. 1 year or more), rather than constantly switching approaches - Finding a successful mentor in the desired specialty and dedicating fully to learning and executing that mentor's approach is essential - Consistency, focus, and willingness to learn from experienced practitioners are critical for long-term success as an agent - In the final expense insurance industry, price is a factor but not the sole determinant - finding a reliable carrier with an affordable overall package that fits the client's budget is key - Skilled presentation of the right solutions is more important than just chasing the cheapest option - Agents should carry efficient technology like laptops, briefcases, legal pads when meeting clients, and have a robust office setup with dual monitors - A wired ethernet connection and dual monitor setup at home/office is preferable - Agents should prioritize fair compensation, support and resources over just chasing high commission levels - Putting in early effort to build a successful system is better than taking a low commission contract just for leads - Agents must carefully evaluate trade-offs when accepting lower commissions for benefits, rather than just taking a "street level" approach - While tools like sales software can help, an agent's experience, creativity and deep product/industry understanding are most valuable for providing good recommendations Key Lessons The importance of committing to a specific focus and strategy for an extended period (e.g., a year or more) rather than frequently changing approaches. The role of price in the final expense insurance industry, where the key is finding a reliable carrier that offers an affordable overall package that fits the client's needs, rather than just focusing on the lowest price. The evolving nature of technology and the importance of having the right tools, such as a laptop, briefcase, and presentation materials, to be efficient and effective when meeting with clients.

Episode Description

The key to success for insurance agents is committing to a specific focus or strategy for an extended period (e.g. 1 year or more), rather than constantly switching approaches

- Finding a successful mentor in the desired specialty and dedicating fully to learning and executing that mentor's approach is essential

- Consistency, focus, and willingness to learn from experienced practitioners are critical for long-term success as an agent

- In the final expense insurance industry, price is a factor but not the sole determinant

- finding a reliable carrier with an affordable overall package that fits the client's budget is key

- Skilled presentation of the right solutions is more important than just chasing the cheapest option

- Agents should carry efficient technology like laptops, briefcases, legal pads when meeting clients, and have a robust office setup with dual monitors

- A wired ethernet connection and dual monitor setup at home/office is preferable

- Agents should prioritize fair compensation, support and resources over just chasing high commission levels

- Putting in early effort to build a successful system is better than taking a low commission contract just for leads

- Agents must carefully evaluate trade-offs when accepting lower commissions for benefits, rather than just taking a "street level" approach

- While tools like sales software can help, an agent's experience, creativity and deep product/industry understanding are most valuable for providing good recommendations

Key Lessons

The importance of committing to a specific focus and strategy for an extended period (e.g., a year or more) rather than frequently changing approaches.
The role of price in the final expense insurance industry, where the key is finding a reliable carrier that offers an affordable overall package that fits the client's needs, rather than just focusing on the lowest price.
The evolving nature of technology and the importance of having the right tools, such as a laptop, briefcase, and presentation materials, to be efficient and effective when meeting with clients.